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The Week in Sustainability
November 18–22, 2024
This week:
We dive into the highlights, controversies, and challenges of COP29 in Azerbaijan. While ambitious climate commitments were announced, such as the UN's 81% emissions reduction target by 2035 and Indonesia’s plans for net zero by 2060, skepticism remains about how these goals will be achieved. The conference also saw significant milestones, including the establishment of global carbon market standards under Article 6 of the Paris Agreement, which could dramatically reduce the cost of implementing NDCs. However, criticism marred the summit, with allegations of fossil fuel deals overshadowing its mission. As global negotiations continue, the podcast underscores the necessity of these forums despite their imperfections, emphasizing their pivotal role in advancing climate action.
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The Week in Sustainability
November 11–15, 2024
This week:
After the 2024 U.S. election, several states took significant climate action despite federal uncertainties. Washington voters upheld the Climate Commitment Act, ensuring funding for carbon reduction projects, while California approved a $10 billion resilience fund targeting wildfire prevention, water conservation, and clean energy. Hawaii launched a Climate Resiliency Fund, and Louisiana allocated renewable energy revenue for coastal restoration. In South Dakota, voters repealed a law favoring pipeline development, prioritizing landowner rights. Meanwhile, Texas reinforced fossil fuel policies, leaving climate action to local efforts. These state-level initiatives reflect growing public support for policies that enhance safety and resilience.
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This week:
Covers two major climate-related developments in California. The University of California, San Diego has introduced a mandatory climate-focused course for all students, signaling the growing importance of climate education across all fields of study. The episode also explores California’s leadership in climate policy, particularly as it faces political challenges, including potential rollbacks of environmental regulations and court battles over stricter emissions standards. Both stories emphasize California's ongoing efforts to integrate climate resilience into education and policy.
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This week:
Dives into two major reports spotlighting the urgency of climate action as COP29 approaches. Despite national pledges, current trajectories fall significantly short of the 43% emissions reduction scientists say is needed by 2030—an alarming gap with drastic implications.
Additionally, COP29, known as the “finance COP,” will see countries renegotiate climate finance goals, aiming to replace the original $100 billion annual target with a more ambitious funding framework. With new commitments on the table, major emitters and financial contributors face increasing pressure to bring stronger, actionable pledges to the summit.
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This week:
Covers the potential impacts of the 2024 U.S. presidential election on climate policy, with anticipated rollbacks under a second Trump administration, including possible withdrawal from the Paris Agreement and increased fossil fuel production. However, strong state-level policies, investor demands, and market dynamics are likely to sustain sustainability progress.
In addition, we recap Workiva’s recent Amplify Conference in EMEA, where industry leaders discussed the complexity of financial and ESG reporting under regulations like the EU's CSRD. Keynotes emphasized the importance of cross-functional collaboration, digital transformation, and assured integrated reporting to meet stakeholder expectations in an evolving regulatory landscape.
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The Week in Sustainability
October 14–18, 2024
This week:
We focused on the Climate Commitment Act in Washington State and the push to repeal it during this upcoming election. Launched in 2023 this legislation targets major business emitters, aiming to significantly reduce emissions and align with IPCC and SBTI targets. It has already generated $2 billion for various mitigation projects, including retrofitting buildings and electrifying transportation. Despite its successes, critics, notably the political action committee Let's Go Washington, attribute rising gas prices to the Act, though evidence contradicts this claim. Repealing the Act would not only undermine climate action but also prioritize business interests over community needs, potentially increasing the long-term costs of climate change.
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The Week in Sustainability
October 7–11, 2024
This week:
This episode explores the increasing frequency and intensity of hurricanes, focusing on recent storms Helene and Milton– examining how climate change is fueling stronger storms through warmer ocean temperatures and rising sea levels, leading to widespread damage and displacement. There is an urgent need for improved disaster preparedness, stronger climate policies, and a balanced approach to both climate adaptation and mitigation to protect vulnerable regions and reduce future risks.
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The Week in Sustainability
September 30 – October 4, 2024
This week:
Our team covers three important climate updates. We begin with the introduction of the Task Force on Inequality and Socially Related Financial Disclosures (TISFD), aimed at helping companies disclose socially related financial risks. Next, we examine California’s Senate Bill 219, which consolidates climate legislation and revises scope 3 emissions reporting timelines. Lastly, we recap New York City’s Climate Week, where discussions focused on accelerating the green economy, the evolving role of voluntary carbon markets, and the increasing alignment between sustainability and profitability.
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In this week’s episode of The Week in Sustainability, we explore groundbreaking research that reconstructs Earth's surface temperatures over the past 500 million years. The study reveals that the Phanerozoic eon, dating back to the Cambrian explosion, was much hotter than previously thought, providing a striking contrast to the current climate crisis. Asofsky highlights two key insights: the unprecedented speed of today’s warming and the direct link between atmospheric carbon and temperature shifts. With clear evidence tying fossil fuel combustion to modern climate change, she emphasizes the critical role of businesses in mitigating the impact.
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The Week in Sustainability x ESG Talk
September 16–20, 2024
This week:
In the fourth and final episode of the ESG Talk Climate Week series, Nancy Mahon, chief sustainability officer of the Estée Lauder Companies, joins host Alyssa Zucker to discuss the company’s approach to Scope 3 measurement and reporting. They cover the impact of consumer sustainability preferences and the unique challenges of leading sustainability efforts across a diverse portfolio of brands.
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In the third installment of ESG Talk’s Climate Week series, Frank Koch, CEO of Swiss Steel Group, and Alberto Carrillo Pineda, CTO of the Science Based Targets initiative (SBTi), join Mandi McReynolds to discuss long-term decarbonization strategies, the steel industry's commitment to sustainable production, and the importance of full emissions transparency.
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In the second episode of the ESG Talk Climate Week series, Amelia DeLuca, Delta Air Lines’ chief sustainability officer, speaks with Andie Wood about Delta Air Lines’ strategies for reducing its direct carbon emissions and efforts to increase sustainable aviation fuel production within the airline industry.
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In this special Climate Week episode, ESG Talk and The Week in Sustainability team up to demystify greenhouse gas emissions. Join us as hosts Steve Soter, Andie Wood, and Alyssa Zucker kick off a four-part series focused on practical solutions for carbon accounting, management, and achieving net-zero goals.
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This week:
– Recent extreme weather events in North America underscore the growing need for cities to adopt robust climate resilience strategies, including infrastructure upgrades and comprehensive climate risk assessments.
–Attribution science is increasingly vital in understanding how climate change amplifies the severity of weather events, guiding policymakers to implement more effective mitigation and adaptation measures.
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This week:
– Shift in power dynamics: The Supreme Court's decision to overturn the Chevron Doctrine significantly alters the balance of power between federal agencies and the judiciary, granting courts more authority to interpret laws and potentially limiting the ability of agencies like the EPA and SEC to enact and enforce climate-related regulations without explicit congressional authorization.
– Impact on climate policy: This ruling presents challenges for federal agencies, as it may lead to regulatory rollbacks and increased legal battles over climate policies. The decision could slow progress on environmental regulations and require Congress to pass more explicit legislation to empower agencies to address complex issues like climate change.
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– Biden’s climate legacy: President Biden’s administration has invested $4.3 billion in EPA grants to combat climate change, reduce pollution, and promote environmental justice, alongside significant climate legislation like the Inflation Reduction Act. However, his policies, including the approval of the Willow oil drilling project, reflect a complex balance between advancing clean energy and making concessions to fossil fuel interests.
– Harris’s potential impact: Vice President Kamala Harris, with a strong history in climate action and environmental justice, is poised to build on Biden’s climate legacy if she becomes the Democratic nominee. Her challenge will be distinguishing herself from Biden, particularly on controversial issues like the Willow project, while accelerating the transition to clean energy.
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Significant impact: Scope 3 emissions in supply chains are 26 times higher than direct operational emissions, highlighting the need for companies to address upstream emissions alongside Scopes 1 and 2.
– Challenges and gaps: Only 15% of companies have set targets for upstream Scope 3 emissions due to complexities in data collection, lack of supply chain transparency, and prioritization of direct emissions.
– Key actions for improvement: The report suggests three critical factors for addressing Scope 3 emissions: having a climate-responsible board, engaging suppliers for transparency and emission reductions, and adopting internal carbon pricing to incentivize low-carbon practices.
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This week:
–Kern County wildfires: Recent wildfires in Kern County caused major evacuations and extensive damage, highlighting the urgent need for climate action as extreme heat and dry conditions fuel more frequent and severe fires.
–Climate regulation landscape: The SEC’s new climate-risk disclosure rule aims to standardize ESG reporting despite legal challenges. Companies must proactively address regulations and prepare for complex reporting, including Scope 3 emissions.
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– Federal rule to protect workers from extreme heat: President Biden announced a rule to protect 36 million outdoor and partially indoor workers. The rule requires employers to implement Heat Injury and Illness Prevention Plans with measures like water provision, rest breaks, and shaded areas. Implementation faces delays and legal challenges, especially in Texas and Florida.
–Impact of Hurricane Beryl: Hurricane Beryl, which hit Texas as a Category 1 storm after devastating Jamaica and Mexico, set records for rapid intensification and highlighted climate risks– underscoring the need for businesses to invest in resilience and prepare for disruptions from extreme weather events.
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This week, our team breaks down the Supreme Court’s decision that redefined how federal agencies interpret environmental laws, emphasizing Chevron’s deference.
This legal principle, which requires courts to defer to agency interpretations of ambiguous statutes, has sparked debates over regulatory stability and clarity, particularly in light of challenges like Ohio v EPA. The decision underscores ongoing tensions between judicial oversight and agency expertise in shaping future environmental regulations.
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